Los Angeles automobile insurance premiums are high and seem to get higher each year. There are ways to reduce your auto insurance premiums but before you do this make sure you are informed of the type of coverage you have or must have before you set about reducing your insurance premiums by reducing your insurance coverage.
Like any commodity, it does pay to shop for your automobile insurance. Using the services of an independent insurance agent will make this task easier for you as they have access to several insurance companies. The agent can also advise you to “bundle” your insurance companies for a discount. If you place your house insurance and automobile insurance through one insurance company you can realize a nice discount that can help you reduce your auto insurance premiums.
When you are looking to purchase a vehicle, look for one that is less expensive to repair. Expensive cars come with expensive car repair bills and expensive insurance premiums. Avoid high-performance vehicles that will result in much higher premiums. Maintain a good credit history. Insurance companies do review your credit
rating when you are buying automobile insurance. Just like any purchase, the better your credit rating is, the better your premium will be. If your driving record is less than excellent, work to remove violations by not incurring additional moving violations. If you do get a ticket, look into traffic school to have the new violation expunged from your record.
Remove unnecessary coverage. If you have access to an additional vehicle, you may not need to pay for rental reimbursement coverage. If your budget will allow for it, investigate the savings to take a higher deductible on your comprehensive and collision coverage. If your vehicle is older, consider dropping the comprehensive and collision damage on your car.
However, if you have any type of loan against the vehicle as collateral, you will have to maintain the physical damage coverage to satisfy your lender. If you have a health insurance plan you may want to drop your medical payments coverage and/or lower your limits of liability for uninsured motorists’ coverage.
Ask your independent local agent for a review of your coverage and you may be surprised by the options available to reduce your auto insurance premiums.